The New Retail Consumer

We asked 40 US consumers, on video and in their own words, how they’re approaching the holidays heading into Q4 2026. They aren’t stepping back from the season.

They’re setting budgets earlier, saving over weeks and months, and planning around Black Friday and Cyber Monday while openly doubting some of the discounts. Through all of it, they’re holding on to the traditions and thoughtfully chosen gifts that make the holidays feel like the holidays, even as the amount they spend on them comes down.

What’s Inside

• Why a gift has to earn its place in the budget, and the different rules families use to decide what feels fair
• How economic anxiety has turned the holiday budget into a plan that runs for months rather than a single spend
• Why shoppers are planning around Black Friday and Cyber Monday deals they don’t fully trust
• What consumers are asking retailers to change so that holiday shopping, online and in store, feels less exhausting
• The seven tensions that can sit inside a single purchase, from quality versus cost to head versus heart
• Three recommendations for Q4 retail, a few findings we didn’t go looking for, and the places where the evidence points the other way

Each finding closes with questions worth investigating, so you can take them straight into your own research planning.

Method

An unmoderated video survey of 40 US consumers, fielded in September 2026 on the Voxpopme platform, with 272 video responses collected and 100 analysed. The research is qualitative and directional, and the report sets out its limitations on page five.